Comerica Bank Raises Stake in International Flavors & Fragrances Inc. $IFF

Comerica Bank lifted its position in shares of International Flavors & Fragrances Inc. (NYSE:IFF) by 17.5% in the fourth quarter, Holdings Channel reports. The firm owned 77,783 shares of the specialty chemicals company’s stock after purchasing an additional 11,581 shares during the period. Comerica Bank’s holdings in International Flavors & Fragrances were worth $5,242,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Invesco Ltd. lifted its position in International Flavors & Fragrances by 131.3% during the 3rd quarter. Invesco Ltd. now owns 7,167,176 shares of the specialty chemicals company’s stock worth $441,068,000 after acquiring an additional 4,069,075 shares in the last quarter. Ameriprise Financial Inc. lifted its position in International Flavors & Fragrances by 1,842.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 2,491,606 shares of the specialty chemicals company’s stock worth $183,264,000 after acquiring an additional 2,363,307 shares in the last quarter. Dodge & Cox lifted its position in International Flavors & Fragrances by 5.5% during the 3rd quarter. Dodge & Cox now owns 36,972,638 shares of the specialty chemicals company’s stock worth $2,275,296,000 after acquiring an additional 1,925,251 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in International Flavors & Fragrances by 51.4% during the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,706,279 shares of the specialty chemicals company’s stock worth $289,624,000 after acquiring an additional 1,598,266 shares in the last quarter. Finally, First Eagle Investment Management LLC lifted its position in International Flavors & Fragrances by 27.3% during the 3rd quarter. First Eagle Investment Management LLC now owns 6,927,070 shares of the specialty chemicals company’s stock worth $426,292,000 after acquiring an additional 1,485,976 shares in the last quarter. Hedge funds and other institutional investors own 96.02% of the company’s stock.

Insider Buying and Selling at International Flavors & Fragrances

In other news, Director Paul J. Fribourg purchased 142,000 shares of the stock in a transaction dated Thursday, March 12th. The stock was acquired at an average cost of $70.13 per share, for a total transaction of $9,958,460.00. Following the acquisition, the director owned 2,422,730 shares of the company’s stock, valued at $169,906,054.90. The trade was a 6.23% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 1.07% of the company’s stock.

International Flavors & Fragrances Price Performance

Shares of NYSE IFF opened at $70.91 on Friday. International Flavors & Fragrances Inc. has a twelve month low of $59.14 and a twelve month high of $84.45. The company has a current ratio of 1.42, a quick ratio of 0.85 and a debt-to-equity ratio of 0.33. The company has a market capitalization of $18.11 billion, a price-to-earnings ratio of -51.76, a price-to-earnings-growth ratio of 1.89 and a beta of 0.93. The business has a 50 day simple moving average of $72.99 and a 200-day simple moving average of $69.94.

International Flavors & Fragrances (NYSE:IFF) last issued its quarterly earnings results on Wednesday, February 11th. The specialty chemicals company reported $0.80 earnings per share for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.05). International Flavors & Fragrances had a negative net margin of 3.20% and a positive return on equity of 7.67%. The firm had revenue of $2.59 billion during the quarter, compared to the consensus estimate of $2.52 billion. During the same quarter last year, the firm posted $0.97 earnings per share. International Flavors & Fragrances’s revenue was down 6.6% compared to the same quarter last year. As a group, equities research analysts expect that International Flavors & Fragrances Inc. will post 4.42 earnings per share for the current year.

International Flavors & Fragrances Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 10th. Stockholders of record on Thursday, June 18th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date is Thursday, June 18th. International Flavors & Fragrances’s payout ratio is -116.79%.

Analyst Ratings Changes

IFF has been the topic of several recent research reports. Bank of America boosted their price target on International Flavors & Fragrances from $84.00 to $88.00 and gave the stock a “buy” rating in a research report on Thursday, January 8th. Berenberg Bank reduced their price target on International Flavors & Fragrances from $78.30 to $77.50 and set a “hold” rating on the stock in a research report on Thursday, February 5th. UBS Group reduced their price target on International Flavors & Fragrances from $85.00 to $75.00 and set a “neutral” rating on the stock in a research report on Thursday, April 9th. Oppenheimer reduced their price target on International Flavors & Fragrances from $97.00 to $88.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 22nd. Finally, BNP Paribas Exane reduced their price target on International Flavors & Fragrances from $88.00 to $85.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 7th. Twelve investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $87.50.

International Flavors & Fragrances Company Profile

International Flavors & Fragrances Inc (NYSE:IFF) is a global leader in the creation and production of flavors, fragrances, cosmetic actives and nutritional lipids. The company develops taste and scent solutions for a wide array of end markets including food and beverage, personal care, household goods and pharmaceutical products. Its portfolio spans natural and nature-identical flavors, fine fragrances, functional ingredients for skin and hair care, and specialty oils that enhance nutritional value and sensory appeal.

IFF’s research and development network comprises innovation centers in North America, Europe, Asia-Pacific and Latin America, where multidisciplinary teams collaborate on aroma chemistry, sensory science and biotechnology.